Student Loans: Can Consolidation Help?

by DeLadurantey Law Office, LLC on April 10, 2014

Graduates across the country are struggling to repay their student loans. If you have been on the Internet trying to discover your options for handling your student loans, you have likely learned that eliminating student loans in bankruptcy is nearly impossible. Thus, it is important to explore and understand your other options.

One option many people consider is loan consolidation. While consolidating your loans will not reduce the amount you owe, it can be beneficial to simplify your finances. Consolidation creates one bill for you to pay every month. Additionally, your monthly payment can be reduced to an affordable amount to be paid over an extended period of time. It is important to remember, however, that the longer you extend your repayment period, the greater the amount of interest you will pay.

If you are considering a loan consolidation, let us review the terms of your original agreement with the student loan lender. You want to ensure that you are not losing any benefits such as interest rate discounts, potential loan cancellation options and principal rebates.

There are other options that may be available to you as well. To learn more, call our student loan attorneys to schedule an appointment.

If you are considering filing for bankruptcy protection, call DeLadurantey Law Office, LLC, at (414) 377-0518. We believe that each client should receive the individual attention necessary to reach their financial goals. Recognizing the needs of working clients, we maintain a flexible schedule and offer evening appointments. Initial consultations are always free, and phones inquiries are always welcomed. Find us on the Internet and on Facebook.